The iPhone X has been sold out since the phone went on preorder in late October, but Apple has been ramping up production significantly to meet demand. Right now, you can order an iPhone X directly from Apple and have it shipped to your home in a matter of days.
However, Apple has reportedly cut iPhone X orders for the first quarter of 2018, as demand is supposedly fading.
According to Bloomberg, Apple is having a “not-so Merry Christmas.”
The report quotes notes from analysts who have already lowered iPhone X shipment projections for the first quarter of 2018, citing a lackluster demand at the end of the holiday shopping season.
Sinolink Securities Co. analyst Zhang Bin says Apple may ship just 35 million iPhone X units in the period, 10 million short of the previous estimates.
JL Warren Capital LLC said shipments will drop to 25 million next quarter from 30 million in the Christmas quarter. The note says the drop reflects ““weak demand because of the iPhone X’s high price point and a lack of interesting innovations.” The analysts say Apple has reduced orders to its suppliers.
A similar report comes from Taiwanese newspaper Economic Daily News reported, which says that Apple trimmed its first-quarter sales forecast to 30 million from 50 million. Foxconn has stopped recruiting workers, the report added.
Shares of various Asian suppliers dropped on the news on Monday and Tuesday, Bloomberg says.
Analysts from Cowen & Co. say that customers are buying cheaper iPhones, as Apple failed to add enough new features to justify a $999 price tag for the iPhone X.